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Carl Icahn exited a big bet on Occidental Petroleum Corp., selling the last of what was once a roughly 10% stake in the oil-and-gas producer as its shares surge.
Icahn, who had been cutting the position, in recent days sold the remainder of it, according to a letter he sent to Occidental’s board Sunday. The move brings to a close one of Icahn’s most dramatic recent clashes, which began when he criticized Occidental for outbidding larger rival Chevron Corp.
CVX,
to strike a $38 billion deal to buy Anadarko Petroleum Corp. in May 2019.
